Posts by WAW

Los Angeles Business Journal 09/14/18 Will Loews Santa Monica Top $500M? Recent deals in luxury segment of region’s hotel industry suggest as much By Ciaran McEvoy http://labusinessjournal.com/news/2018/sep/14/will-loews-santa-monica-top-500m/   Loews Santa Monica Beach Hotel could fetch more than $500 million now that China-based Anbang Insurance Group Co. has put it on the market after counting it…

The San Diego Union-Tribune 09/14/18 Historic Glorietta Bay Inn Sold to L.A. Hotel Group for $39M By Brittany Meiling http://www.sandiegouniontribune.com/business/tourism/sd-fi-glorietta-sale-realestate-deal-20180911-story.html   The historic mansion in Coronado that local magnate John D. Spreckels once called home has sold to a Los Angeles hotel company for $39 million. Over 100 years ago, the landmark six-bedroom ocean property…

The Mercury News 09/10/18 Downtown San Jose Hotel Plans to Expand at Choice Site By George Avalos https://www.mercurynews.com/2018/09/10/downtown-san-jose-hotel-plans-expand-at-choice-site-google-adobe-amazon/   SAN JOSE — Plans have expanded for a hotel tower that would sprout on a choice site in downtown San Jose, a short distance from a planned Adobe Systems campus expansion and proposed Google transit village.…

San Diego Business Journal 09/10/18 Glorietta Bay Inn Sold for $39M By Ray Huard http://sdbj.com/news/2018/sep/10/glorietta-bay-inn-sold-39m/ Coronado’s historic Glorietta Bay Inn has been sold for $39 million to Kamla Hotels by Glorietta Bay Inn, LLC. The 110-year-old boutique hotel at 1630 Glorietta Blvd. is comprised of an 11-room mansion and 89 contemporary rooms and suites. The…

SoCal Real Estate 08/27/18 What Does Anbang’s Disposition Mean for SoCal Hotels? By Carrie Rossenfeld https://socal-re.com/what-does-anbangs-disposition-mean-for-socal-hotels/ Several news sources have recently reported that Chinese insurance firm Anbang Insurance Group Company is seeking to dispose of its $5.5 billion U.S. luxury-hotel portfolio, which it had acquired from Blackstone in September 2016. Alan Reay, president of Irvine,…

San Francisco Chronicle 08/28/18 L.A. Investor Could Buy Fourth Hotel on S.F.’s Nob Hill By Roland Li https://www.sfchronicle.com/business/article/L-A-investor-could-buy-fourth-hotel-on-S-F-s-13188883.php   A Los Angeles investor appears poised to buy the Huntington Hotel atop San Francisco’s Nob Hill, in what would be his firm’s fourth hotel acquisition in the neighborhood, according to state records. The potential buyer, Woodridge…

Santa Cruz Sentinel 08/27/18 Santa Cruz Hotels See Record Room Rates as Nearby Cities Ask for Higher Hotel Room Taxes By Jondi Gumz http://www.santacruzsentinel.com/article/NE/20180827/NEWS/180829727   Hotels and motels in the city are booming, with record year-to-date occupancy of 72 percent and average room rates reaching $200 for June and July, a first, according to STR,…

Orange County Business Journal 08/27/18 Anaheim Isn’t Happiest Place for Developers By Paul Hughes http://www.ocbj.com/news/2018/aug/27/anaheim-isnt-happiest-place-developers/ A sizzling summer for Anaheim hotels is getting hotter in more ways than one. Room rates and occupancy levels are healthy, according to recent data from CBRE Hotels, and the city’s two largest trade shows officially re-upped at Anaheim Convention…

The Registry 08/21/18 Westin St. Francis Hotel in San Francisco Is Up for Sale By Jon Peterson https://news.theregistrysf.com/westin-st-francis-hotel-in-san-francisco-is-up-for-sale/   The Westin St. Francis Hotel in San Francisco is now on the market for sale. The property had been under the ownership of China-based Anbang Insurance Group. However, this was asset recently was taken over by…

The Real Deal 08/21/18 Jamison Eliminates Hotel Portion of Koreatown Strip Mall Project By Natalie Hoberman https://therealdeal.com/la/2018/08/21/jamison-eliminates-hotel-portion-of-koreatown-strip-mall-project/   Koreatown’s most prominent landlord, Jamison, has revised its plans for one of its many multifamily projects in the neighborhood. The firm, acting through an LLC, has removed the hotel portion of its mixed-use project at Eighth Street…

San Fernando Valley Business Journal 08/20/18 Hotel Construction Rising http://sfvbj.com/news/2018/aug/20/century-21-starts-anew-logo-rebrand/ Hotel Construction Rising 20180820